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Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues

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  • Decentraland price analysis is bullish today.
  • MANA/USD hasn’t been affected by yesterday’s market sell-off.
  • Price movement has been minimal since 13th November.

The Decentraland Price analysis dictates the token is getting mixed market sentiment today. The MANA/USD appears to be consolidating from 13th November, as the price movements are small, as compared to the pre 13th November swings high and low. MANA/USD does not seem to be affected by yesterday’s market sell-off when most major coins suffered significantly, but MANA maintained well. A wild low swing was observed yesterday when the price went down to $2.73 for a few minutes but recovered soon.

MANA has gained tremendous value after breaking out of its shell on 28th October while swinging as high as $4.98 on 30th October.

MANA/USD 1-day price chart: MANA receives mixed market sentiment

The 1-day Decentraland price analysis shows the price movement is slightly upwards till now, but there exist chances for a retracement as well, as overall the market is bearish, but the MANA is still in bullish form. The token is trading at $3.24 at the time of writing, gaining more than eight percent value during the last 24 hours and 16.50 percent value over the past week. Trading volume has also increased by 98 percent resulting in the market dominance of 0.23 percent.

Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues 1
MANA/USD 1-day price chart. Source: TradingView

The volatility is decreasing for the MANA/USD pair as the Bollinger bands, after ballooning up from 28th October, are now converging, with the upper band at the $3.7 mark representing resistance and the lower band is at the $1.99 mark. The average of the indicator at the $2.8 mark represents support for MANA.

The relative strength index (RSI) continues to trade near the oversold region at index 67. The RSI follows a straight curve line giving no clear signal but shows less room for further upwards movement. The moving average (MA) is trading below the price level at the $3 mark.

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Decentraland price analysis: Recent developments and further technical indications

The 4-hour Decentraland price analysis shows that the price breakup was upwards at the start of today’s session, but the increase was nominal to the extent of almost negligible. The last candlestick is red, indicating a decrease in price, but the price oscillation continues to be slow.

Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues 2
MANA/USD 4-hour price chart. Source: TradingView

The volatility is mild for MANA on the 4-hour chart, and the price is trading just above the mean average of the Bollinger bands, which represents support for the MANA price at the $3.22 mark. The moving average is also below the price level at $3.18, and the RSI is in the upper half of the neutral zone at index 52. The RSI on the 4-hour chart is also trading at a straight line indicating equal buying and selling activity in the market.

Overall the technical indications for MANA/USD pair are towards the bullish side, as the token after rising high has not depreciated much and is maintaining the high price successfully.

Decentraland Price Analysis: Conclusion

Decentraland price analysis is slightly bullish today as still the price inclination is upwards, but as the 4-hour chart shows, a reversal is also possible. However, the price oscillation is expected to remain low as MANA is still consolidating before rallying further high.

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Decentraland price under pressure by market turmoil, MANA points to steep correction

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  • Decentraland is on the back foot today after hitting $6.0 on Thursday.
  • MANA price tumbled as news about a new covid variant rattled global markets.
  • A break below $4.5 would see the price correct further towards $3.66, a 16% devaluation. 

Decentraland (MANA) has not been able to sit back and enjoy its all-time highs printed on Thursday, above $6.0. MANA price reversed to the downside as a wave of negative news surrounding a new Covid variant hit news wires during the Asian session, and pushed investors into risk-off mode. Expect to see reversals across the board in all cryptocurrencies, with MANA price seeing first support at $4.5, but possibly pushing lower as the day continues, towards $3.66.

Decentraland price can fall 16% after hitting new all-time highs 

Decentraland is on the backfoot in the slippage of its larger brother Ethereum and other major cryptocurrencies. Markets got rattled by breaking news during Asian hours about a new strain of Covid that could be worse than the ones already known to man for the moment. Global markets quickly tumbled across the board with investors pulling out their investments and causing a massive sell-off in several assets, except safe-havens. 

MANA price broke below the monthly R1 resistance level at $5.05 and traded towards the first support at $4.50. That level is just below the 38.7% Fibonacci retracement level at $4.60, both have yet to prove their support. As the US market still needs to open after its Thanksgiving holiday, expect a second wave of selling to come this afternoon and push MANA price further to the downside to break the 50% Fibonacci level at $4.12.

MANA/USD daily chart

MANA/USD daily chart

Expect that second wave to see some acceleration to the downside and face the double support at both the green ascending trend line and the 61.8% Fibonacci retracement level that intersects it at $3.66. This would be a very good entry-level to gear up for a long position, since at this point the move may have become exhausted. At the beginning of next week, dust will have settled and MANA price will have clawed back towards that historical level at $4.50 and flirting with the $4.60 level that coincides with the 38.2% Fibonacci level. A further fade of the headwind and investors looking for buying-opportunities could push MANA price even back towards $5.0 by the end of next week. 

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Decentraland (MANA) & The SandBox (SAND) Price Chasing Each Other To Hit $10!

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Decentraland & The SandBox carry on with their bullish trend that began almost a month before. Both the NFT’s had a monstrous rally of more than 600% and 1000% respectively which appears to be unstoppable currently. The MANA price & SAND price seem to be in a race against each other aiming at a double-digit target somewhere in the Q1 of 2022. 

Decentraland (MANA) Price May Hit $25

Decentraland emerged from a thin space and outperformed well-established NFT’s like Theta, Tezos, Enjin Coin, Chiliz, etc. MANA price after being calm for more than a couple of years got a major push during the bull run 2021. The price rose viciously to hit highs somewhere around $1.6.

The second bull run came out to be more aggressive and accumulated more than 600% gains within a month. Yet the rally is expected to continue with more strength in order to hit $10 very soon. However, the upcoming rally may also include a notable plunge again back to $3-$4 levels as per one of the analysts.

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Despite the correction, the analyst is still bullish on the asset and expects a huge flip to higher levels. Considering the 2020 lows as the support for the FIB levels, the current price is hovering around 4.9 levels. The analysts believe the asset may range high to the next FIB level at 28 which lies around $25 to $32. Therefore, Decentraland is pretty bullish considering a longer and higher time frame. 

The SandBox(SAND) Price Could Still Be A Good Buy!

The SandBox like MANA maintained a substantial upward trajectory since the beginning of 2021. However, the spike which hit the SAND price since the beginning of November was pretty unexpected. The asset’s bull run of more than 1000% caught everyone’s attention and hence the rally does not appear to face a pullback or correction until the end of the month. 

The SAND price is $8.19 after smashing the new ATH at $8.32 with a jump of nearly 20% in the early hours of trade. Despite surging constantly for a week, the asset may get a little exhausted and hover around $5.5-$6. However, the pullback may be short-lived which will be overcome by a gigantic leap beyond $10. 

Collectively, Decentraland & The SandBox are completely focusing on a huge upward trajectory, nullifying the possibilities of a pullback. However, the possibilities are still alive as the assets usually tend to exhaust after reaching some milestones. And hence despite minor corrections, MANA price & SAND price appear to be pre-programmed to smash a 2-digit figure soon. 

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MANA

Decentraland (MANA) & The SandBox (SAND) Price Chasing Each Other To Hit $10!

Published

on

Decentraland & The SandBox carry on with their bullish trend that began almost a month before. Both the NFT’s had a monstrous rally of more than 600% and 1000% respectively which appears to be unstoppable currently. The MANA price & SAND price seem to be in a race against each other aiming at a double-digit target somewhere in the Q1 of 2022. 

Decentraland (MANA) Price May Hit $25

Decentraland emerged from a thin space and outperformed well-established NFT’s like Theta, Tezos, Enjin Coin, Chiliz, etc. MANA price after being calm for more than a couple of years got a major push during the bull run 2021. The price rose viciously to hit highs somewhere around $1.6.

The second bull run came out to be more aggressive and accumulated more than 600% gains within a month. Yet the rally is expected to continue with more strength in order to hit $10 very soon. However, the upcoming rally may also include a notable plunge again back to $3-$4 levels as per one of the analysts.

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Despite the correction, the analyst is still bullish on the asset and expects a huge flip to higher levels. Considering the 2020 lows as the support for the FIB levels, the current price is hovering around 4.9 levels. The analysts believe the asset may range high to the next FIB level at 28 which lies around $25 to $32. Therefore, Decentraland is pretty bullish considering a longer and higher time frame. 

The SandBox(SAND) Price Could Still Be A Good Buy!

The SandBox like MANA maintained a substantial upward trajectory since the beginning of 2021. However, the spike which hit the SAND price since the beginning of November was pretty unexpected. The asset’s bull run of more than 1000% caught everyone’s attention and hence the rally does not appear to face a pullback or correction until the end of the month. 

The SAND price is $8.19 after smashing the new ATH at $8.32 with a jump of nearly 20% in the early hours of trade. Despite surging constantly for a week, the asset may get a little exhausted and hover around $5.5-$6. However, the pullback may be short-lived which will be overcome by a gigantic leap beyond $10. 

Collectively, Decentraland & The SandBox are completely focusing on a huge upward trajectory, nullifying the possibilities of a pullback. However, the possibilities are still alive as the assets usually tend to exhaust after reaching some milestones. And hence despite minor corrections, MANA price & SAND price appear to be pre-programmed to smash a 2-digit figure soon. 

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